Tesla Chargers Win More Backers as Its Plug Becomes US Standard | Tech News

Tesla Chargers Win More Backers as Its Plug Becomes US Standard

Tesla Inc.’s charging technology won more backers as a handful of players in the electric-vehicle power industry said they would offer compatible equipment, further solidifying the automaker’s system as the US standard.

By:BLOOMBERG
| Updated on: Jun 14 2023, 10:38 IST
Tesla
Tesla could add $3 billion in revenue in 2030 and more than $5.4 billion in 2032 from non-Tesla vehicle owners, according to a recent report from Piper Sandler & Co. (REUTERS)
Tesla
Tesla could add $3 billion in revenue in 2030 and more than $5.4 billion in 2032 from non-Tesla vehicle owners, according to a recent report from Piper Sandler & Co. (REUTERS)

Tesla Inc.'s charging technology won more backers as a handful of players in the electric-vehicle power industry said they would offer compatible equipment, further solidifying the automaker's system as the US standard.

ChargePoint Holdings Inc., Blink Charging Co. and Wallbox NV each said Monday they will have chargers capable of working with Tesla's North American Charging Standard, which is quickly winning in competition with the so-called Combined Charging System. Australia's Tritium DCFC Ltd. also said it would offer an NACS connector option with its chargers.

The rapid succession of announcement comes just days after car giants General Motors Co. and Ford Motor Co. agreed to join with Elon Musk's company by adopting standardized NACS ports in future models.

These latest moves by charging companies underscore how quickly the industry is shifting to a single standard, at least in North America. That could give consumers pondering an electric vehicle greater confidence the technology is here to stay and that they'll be able to find places to top up their batteries. It could also act as a rearguard action by the charging industry to keep Tesla from capturing a bigger chunk of the fast-growing business.

“Ultimately, the charging companies will provide an option to stay relevant and not lose market share,” said BloombergNEF analyst Ryan Fisher. “The other car manufacturers may not want to embolden Tesla further, so they are in board rooms right now deciding what to do.”

Tesla could add $3 billion in revenue in 2030 and more than $5.4 billion in 2032 from non-Tesla vehicle owners, according to a recent report from Piper Sandler & Co.

ChargePoint, which makes charging equipment, said its NACS charging adapter was in development before Ford and GM adopted it for their future EVs, but the company said Monday it will soon offer a compatible charger on its current product line. Wallbox also said it will begin offering NACS compatible charging equipment for its Supernova fast charger.

Blink, which operates charging stations, said it will start making its fast charger available in global markets and they will be equipped for both CCS and NACS use.

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First Published Date: 14 Jun, 10:16 IST
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